Patrick Basham of the Cato Institute is skeptical. He writes, "[T]he realization of Iraq's democratic potential will depend more on the introduction of a free market economic system and its long-term positive influence on Iraqi political culture than on a United Nations-approved election."

He's got a point. So how can we improve the odds for freedom? Gregory Fossedal, author of Direct Democracy in Switzerland, offers a novel idea. Give every Iraqi citizen an equal share of stock in the nation's oil reserves.

We keep saying the oil belongs to the Iraqi people. Well, shouldn't it really belong to them, then? Already, a fight is brewing between France, Russia and the U.S. — all of whom would like to play a role in Iraqi oil after the war. Well, that's fine, everybody wants to play a role in helping count the money and that's just what the marketplace is there for. But before the oil is chopped up politically in the mere name of the Iraqi people, why not instead truly give the oil to the Iraqis?

No doubt such a process would still require deciding a ton of complex issues, but it could be done — officially, legally. Give every Iraqi his individual share in real stock.

It might be a good start in letting the Iraqi people begin a wonderful journey into political and economic freedom and decision-making. That's the mission, after all.

This is Common Sense. I'm Paul Jacob.

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